TNK's 1998-built Aframax, Nassau Spirit, has reportedly been sold for $9.3 - 9.8M during the last 10 days. That significantly impacts my BV number for TNK. Just doing the lowerend calculation-Suezmaxes - $345MAframaxes - $251.8MProduct vessels - $141MOther - $208MDebt $800Mor $945.8 - 800M/84M = $1.73/sh.Having avoided most of TNK's Oct-early Nov 2012 meltdown, here I hold my shares. Yes, Q4 2012results could be bad. But, ... bad enough to cut the div again? We're talking a 2c div.I realize there were many vessels in TNK's fleet trading Spot in Q4, but I also think themarket was slightly better for the Aframaxes and product vessels in Q4.Besides, the Aframax vessel sale is a Q1 2013 event.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra